Social Media

Wishpot Closes Series A with an Extra $1 Million

Personalized shopping tool and wish list aggregator Wishpot has closed its Series A round of investment, adding another $1 million in funding from Monster Venture Partners. Other investors participating in this round include H-Farm, an Italian Internet development group, and existing investors including Adrian Hanauer. Rob Monster, Managing Director of Monster Venture Partners, is joining Wishpot's board of directors.

So what does a wish list service do with an additional $1 million in funding? Bulk out its verticals. Wishpot has seen a great deal of success with its wedding wish list features, as its personalized social shopping tool makes it easy for users to save items they want, and for their friends to discretely purchase the items without running the risk of overlapping with other friends' purchases.

There are a number of verticals that Wishpot could launch from its founding service, from graduations, to holidays and baby announcements. Combined with comparison shopping tools and mechanisms for feedback from others, Wishpot's wish list service is among the most developed for this particular niche.

In addition to enhancing its verticals, Wishpot will also be using the funding to go towards business development, as well as launching analytics for enterprise customers on the Wishpot platform.

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